(CNSNews.com) - House Minority Leader Nancy Pelosi said on Friday that Congress should hand over to President Barack Obama personal, unilateral authority to increase the limit on the U.S. government's debt.

At a Friday press conference, a reporter asked Pelosi if she agreed with a proposal made by Treasury Secretary Timothy Geithner that Congress give Obama the power to unilaterally increase the debt limit.

"Yes," she said.

When he met with members of Congress on Thursday to discuss a deal to avoid the so-called fiscal cliff that is set to occur at the end of this year, Secretary Geithner suggested that Congress give Obama the personal power as president to lift the legal limit on the federal government's debt.

(CNSNews.com) - House Minority Leader Nancy Pelosi said on Friday that Congress should hand over to President Barack Obama personal, unilateral authority to increase the limit on the U.S. government's debt.

At a Friday press conference, a reporter asked Pelosi if she agreed with a proposal made by Treasury Secretary Timothy Geithner that Congress give Obama the power to unilaterally increase the debt limit.

"Yes," she said.

When he met with members of Congress on Thursday to discuss a deal to avoid the so-called fiscal cliff that is set to occur at the end of this year, Secretary Geithner suggested that Congress give Obama the personal power as president to lift the legal limit on the federal government's debt.

(CNSNews.com) - House Minority Leader Nancy Pelosi said on Friday that Congress should hand over to President Barack Obama personal, unilateral authority to increase the limit on the U.S. government's debt.

At a Friday press conference, a reporter asked Pelosi if she agreed with a proposal made by Treasury Secretary Timothy Geithner that Congress give Obama the power to unilaterally increase the debt limit.

"Yes," she said.

When he met with members of Congress on Thursday to discuss a deal to avoid the so-called fiscal cliff that is set to occur at the end of this year, Secretary Geithner suggested that Congress give Obama the personal power as president to lift the legal limit on the federal government's debt.

That would be like giving an arsonist gasoline and a match. A fitting analogy, being Obama is going to sit and watch the world burn.

The problem with removing the debt ceiling limit is that it totally lifts the veil on the concept that we are attempting to control debt. The issue with that is, when there is no control, albeit veiled as it is, then it becomes extremely dangerous to devaluation of the reserve currency. Other countries will see this as a threat to the US dollar and will move away from using it (already happening with Russia and China in certain trading situations) and the acceleration of moving away from the US dollar as the reserve currency will come to fruition.

The problem with removing the debt ceiling limit is that it totally lifts the veil on the concept that we are attempting to control debt. The issue with that is, when there is no control, albeit veiled as it is, then it becomes extremely dangerous to devaluation of the reserve currency. Other countries will see this as a threat to the US dollar and will move away from using it (already happening with Russia and China in certain trading situations) and the acceleration of moving away from the US dollar as the reserve currency will come to fruition.

The problem with removing the debt ceiling limit is that it totally lifts the veil on the concept that we are attempting to control debt. The issue with that is, when there is no control, albeit veiled as it is, then it becomes extremely dangerous to devaluation of the reserve currency. Other countries will see this as a threat to the US dollar and will move away from using it (already happening with Russia and China in certain trading situations) and the acceleration of moving away from the US dollar as the reserve currency will come to fruition.

Great post.

The debt ceiling is a joke as it doesn't really mean anything, it's more window dressing. Our govt. loves that stuff, just look at the 4-5 "Debt/Budget Control Acts" passed over the last 25 odd years. Lot of good they did but it let the Clown College pat itself on the back.